The commission of enquiry into the collapse of Clico is expected to last all of next year, a source close to the inquiry said yesterday. He said sessions already were scheduled for next May and there was also the "very likely possibility" further sessions would take place after that.
"This is a very lengthy inquiry and it would take some time to complete. It is difficult to say when it could be completed but it would last all of next year," he added. He said upon its conclusion, Director of Public Prosecutions (DPP) Roger Gaspard could not use the findings to file charges against anyone.
The DPP could use the findings as a guide in the criminal investigation against individuals who were being probed, it was stated. Gaspard said last Friday the police had started a criminal investigation into the conduct of individuals and corporate entities involved in the collapse of Clico and related companies.
In a statement, Gaspard said for the media to jeopardise, hinder or otherwise prejudice the investigation or any possible proceedings might amount to a contempt of court. He added: "I remain mindful of competing public-interest factors, including the fair-trial rights of potential defendants, the freedom of the press and the requirement of open justice."
The source said it was not unusual for an inquiry to take place side-by-side with a criminal investigation. "This happens all over the world so it is therefore nothing new to Trinidad but these are two separate matters and therefore one would not encroach on the other," the source added.